Malaysia Diagnostic Imaging market to be dominated by government support to the healthcare sector through 2028
Incorporation of AI in diagnostic imaging and the growing
healthcare awareness among people in the country are driving the Malaysia diagnostic imaging market.
According to TechSci Research report, “Malaysia
Diagnostic Imaging Market – Industry Size, Share, Trends, Competition, Opportunities and Forecast,
2018-2028”,
the Malaysia diagnostic
imaging market is anticipated to register a high CAGR during the forecast
period due to increase in the healthcare spending and growing medical tourism
of Malaysia with every passing year.
AI equipped diagnostic
imaging is playing a significant role in driving the Malaysian diagnostic
imaging market. AI technology is transforming the diagnostic imaging industry
by enabling more accurate and efficient diagnoses, improving patient outcomes,
and reducing healthcare costs. AI algorithms can analyze large amount of medical
images, such as X-rays, MRI scans, and CT scans, to identify abnormalities and
assist in the diagnosis of diseases. Using AI, radiologists can detect
early-stage diseases, provide more accurate diagnoses, and recommend
personalized treatment plans. In Malaysia, AI equipped diagnostic imaging is
becoming more widely used, especially in large hospitals and medical centers. The
adoption of AI diagnostic imaging is further expected to propel the growth of the
Malaysia diagnostic imaging market during the forecast period. Rising medical
expenses are also one of the key factors behind the growth of the diagnostic
imaging market in Malaysia. As medical expenses increase, it is becoming
increasingly important to improve the quality of medical services, including
diagnostic imaging, which is essential for accurate diagnosis of diseases and
disorders. In 2020, the government allocated MYR 30.6 billion (approximately
USD 7.5 billion) for healthcare, which was a 9.8% increase from 2019. This
increased healthcare spending has led to a growing demand for diagnostic
imaging services in Malaysia. As a result, the Malaysia diagnostic imaging
market has been expanding, with the introduction of advanced technologies and
the establishment of new diagnostic centers and hospitals. Moreover, increasing
support provided by the Government of Malaysia for improvement in facilities
provided by medical associations of the country is also expected to bolster the
growth of the Malaysia diagnostic imaging market during the forecast period. To
address the growing prevalence of various chronic diseases in the country such
as cancer and cardiac disorders, the government has been investing in improving
the country's healthcare system, including the diagnostic imaging
infrastructure. For instance, Malaysian government has established the National
Imaging Centre (NIC), a state-of-the-art diagnostic imaging facility that
provides a range of imaging services, including MRI, CT, ultrasound, and X-ray.
The NIC is equipped with advanced imaging equipment and staffed by highly
trained medical professionals, making it a critical resource for diagnosing and
treating a wide range of diseases. Moreover, the introduction of health
insurances and various other policies imposed by the government is making the
medical treatment more affordable for people in the country. This is also
driving the growth of the market. Currently, Malaysia is ranked among the top
medical tourism destinations in Asia. In 2019, about 1.22 million people travelled
to Malaysia for medical and healthcare purposes. Neurology, cardiology, and
oncology are the three most highly advanced treatments of Malaysia. As a result
of growing medical tourism, there has been an increase in the demand for
medical imaging services in Malaysia, including diagnostic imaging. The rising
number of tourists travelling to Malaysia for their medical treatment is
increasing the demand for diagnostic imaging devices in the country which is
further expected to fuel the growth of the Malaysia diagnostic imaging market
during the forecast period.
However, lack of skilled
medical professionals in the country, expensive cost of diagnostic test,
dangerous quantity of radiations emitted by diagnostic imaging devices, and
absence of defined procedure and recommendation are expected to slow down the
growth of the market in the coming years.
Browse over 25 market data Figures and spread through 91 Pages and an in-depth TOC on "Malaysia Diagnostic Imaging Market”
The Malaysia diagnostic
imaging market segmentation is based on type, mobility, source, application,
end user, by company, and region.
Based on type, the
market is further divided into X-ray imaging solutions,
ultrasound systems, MRI systems, CT scanners, nuclear imaging solutions, mammography,
and others. X-ray imaging solutions are likely to dominate the market during
the forecast period. This can be
ascribed to higher availability of X-ray imaging facility across all the
regions of the country.
Some of the major companies
operating in the Malaysia
diagnostic imaging market include:
- Siemens Healthcare Sdn. Bhd.
- GE HEALTHCARE SDN. BHD.
- Toshiba Medical Systems
Manufacturing Asia Sdn. Bhd.
- Best Contact (M) Sdn. Bhd.
- Code Medical System Sdn. Bhd.
- I-MEDIC IMAGING SDN. BHD.
- LAC Medical Supplies Sdn. Bhd.
- Canon Medical Systems Malaysia
Sdn. Bhd.
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“Growing need of diagnostic imaging devices in
various regions of Malaysia such as central region are expected to dominate the
Malaysia diagnostic imaging market. Growing natality rate of the country is
leading to a rise in the demand for various diagnostic imaging devices in
Malaysia. For instance, pediatric computed tomography (CT) is a fast and
painless exam that uses special x-ray equipment to create detailed images of a
child’s internal organs. Moreover, various other diagnostic devices which are
used for improving the health of newborn infants are further expected to propel
the growth of the Malaysia diagnostic imaging market during the forecast period,"
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
Malaysia
Diagnostic Imaging Market
– Market Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028F.
Segmented By End User (Hospitals & Clinics, Diagnostic Centers, Ambulatory
Care Centers, and Others), By Region”, has evaluated the future growth potential of Malaysia
diagnostic imaging market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide innovative
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the Malaysia diagnostic
imaging market.
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